Voya Investment Management LLC Has $14.02 Million Stake in Kodiak Gas Services, Inc. $KGS

Key Points

• Voya Investment Management LLC significantly increased its stake in Kodiak Gas Services by 5,009.6% in Q1, now owning approximately 375,810 shares valued at $14 million.
• Analysts maintain a generally positive outlook on Kodiak Gas Services, with a current average rating of "Moderate Buy" and a price target of $41.30.
• Kodiak Gas Services announced a quarterly dividend of $0.45 and initiated a stock buyback program allowing for up to $50 million in share repurchases, reflecting the company's confidence in its stock valuation.

Voya Investment Management LLC increased its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 5,009.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 375,810 shares of the company's stock after purchasing an additional 368,455 shares during the quarter. Voya Investment Management LLC owned about 0.42% of Kodiak Gas Services worth $14,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Kodiak Gas Services by 37.3% during the first quarter. Rhumbline Advisers now owns 60,450 shares of the company's stock worth $2,255,000 after purchasing an additional 16,408 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Kodiak Gas Services by 102.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,108 shares of the company's stock worth $3,548,000 after acquiring an additional 48,122 shares during the period. Zimmer Partners LP boosted its position in shares of Kodiak Gas Services by 14.2% in the 1st quarter. Zimmer Partners LP now owns 3,824,063 shares of the company's stock worth $142,638,000 after purchasing an additional 476,363 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of Kodiak Gas Services by 48.9% in the 1st quarter. Great Lakes Advisors LLC now owns 13,429 shares of the company's stock worth $501,000 after purchasing an additional 4,412 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Kodiak Gas Services by 58.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company's stock valued at $73,979,000 after acquiring an additional 730,180 shares in the last quarter. Institutional investors own 24.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KGS shares. JPMorgan Chase & Co. restated a "buy" rating and issued a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Mizuho increased their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Barclays increased their price target on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Royal Bank Of Canada increased their price target on shares of Kodiak Gas Services from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Finally, Zacks Research downgraded shares of Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 10th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Kodiak Gas Services Trading Down 2.3%

Shares of Kodiak Gas Services stock traded down $0.79 during mid-day trading on Friday, hitting $33.26. The stock had a trading volume of 6,210,672 shares, compared to its average volume of 1,850,207. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. The firm has a market cap of $2.88 billion, a P/E ratio of 36.96 and a beta of 1.34. The firm has a 50-day moving average of $33.59 and a two-hundred day moving average of $34.44. Kodiak Gas Services, Inc. has a 12-month low of $28.37 and a 12-month high of $50.43.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The company had revenue of $322.84 million during the quarter, compared to analysts' expectations of $335.10 million. During the same quarter last year, the company posted $0.06 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is presently 200.00%.

Kodiak Gas Services announced that its Board of Directors has authorized a stock buyback plan on Monday, August 11th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil.